## ## |**Trustees**|MrACCaton OBE|| |---|---|---| ||MrSBMoodey|| ||Mr A Phillips|| ||MsE L Pintado|| ||MrAWPollitt|| ||Prof Andrew Grace|(Appointed 24 July 2023)| ||Prof Andrew Coats|(Appointed 3 April 2023)| |**Secretary**|MsS Callaghan|| |**Charity number**|1116918|| |**Charity number (Scotland)**|SC042984|| |**Company number**|05935975|| |**Registered office**|Bankside 300|| ||Peachman Way|| ||Broadland Business Park|| ||Norwich|| ||Norfolk|| ||NR7 0LB|| |**Auditor**|Azets Audit Services|| ||Westpoint|| ||Lynch Wood|| ||Peterborough|| ||Cambridgeshire|| ||United Kingdom|| ||PE26FZ|| |**Bankers**|Santander UK PLC|| ||2 Triton Square|| ||Regent's Place|| ||London|| ||United Kingdom|| ||BankofIreland|| ||12The High Street|| ||KildareTown|| ||CO. Kildare|| ## ## ||**Page**| |---|---| |Trustees report|1 - 4| |StatementofTrustees responsibilities|5| |Independent auditor's report|6-8| |Statementoffinancial activities|9| |Balance sheet|10| |Statementofcash flows|11| |Notestothe financial statements|12- 19| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |**Unrestricted Unrestricted**
**funds**
**funds**
**general designated**
**2023**
**2023**
**Notes**
£
£
**Income from:**
Donations and legacies
**3**
441,958
Other trading activities
**4**
257,635
Investments
**5**
165,516
**Total income**
865,109
**Ex~enditure on:**
Raising funds
**6**
273,638
Charitable activities
**7**
437,049
160,798
**Total expenditure**
710,687
160,798
**Net incoming resources**
**before transfers**
154,422
(160,798)
Gross transfers between
funds
132,992
(132,992)
**Net income for the year/**
**Net incoming resources**
287,414
(293,790)
**Other recognised gains and losses**
Other gains or losses
**10**
**Net movementinfunds**
287,414
(293,790)
Fundbalances at 1 January
2023
2,467,516
607,795
**Fund balances at31**
**December 2023**
2,754,930
314,005|**Total Unrestricted Unrestricted**
**funds**
**funds**
**general designated**
**2023**
**2022**
**2022**
£
£
£
441,958
475,043
257,635
290,936
165,516
31,955
865,109
797,934
273,638
147,965
597,847
530,866
871,485
678,831
(6,376)
119,103
(607,795)
607,795
(6,376)
(488,692)
607,795
326
(6,376)
(488,366)
607,795
3,075,311
2,955,882
3,068,935
2,467,516
607,795|**Total**
**2022**
£
475,043
290,936
31,955| |---|---|---| |||797,934| |||147,965| |||530,866
678,831
119,103
119,103
326
119,429
2,955,882
3,075,311| ## ## ## |**Notes**
**Current assets**
Debtors
**11**
Cash at bankandinhand
**Creditors: amounts falling due within**
**one year**
**12**
Net current assets
**Income funds**
Unrestricted funds
Designated funds
**13**
General unrestricted funds|**2023**
£
28,445
3,424,056
3,452,501
(383,566)
314,005
2,754,930|
£
3,068,935
3,068,935
3,068,935|**2022**
£
64,515
3,476,623
3,541,138
(465,827)
607,795
2,467,516|
£
3,075,311| |---|---|---|---|---| |||||3,075,311| |||||3,075,311| ## ## ## |**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
**Notes**
**16**
**Investing activities**
Investment income received
**Net cash generated from investing**
**activities**
**Net cash usedinfinancing activities**
**Net (decrease)/increaseincash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2023**
£
165,516
£
(218,083)
165,516
(52,567)
3,476,623
3,424,056|**2022**
£
31,955
£
494,702
31,955
526,657
2,949,966
3,476,623| |---|---|---| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**general**|general| ||**2023**|2022| ||£|£| |Donations and gifts|441,958|475,043| |**Donations and gifts**||| |General donations|40,519|7,055| |Pledge program donations|401,439|467,988| ||441,958|475,043| ## ## ## |**4**
**Other trading activities**
**Unrestricted**
**funds**
**general**
**2023**
£
Lottery activities
257,635
**5**
**Investments**
**Unrestricted**
**funds**
**general**
**2023**
£
Interest receivable
165,516
**6**
**Raising funds**
**Unrestricted**
**funds**
**general**
**2023**
£
Fundraising and publicity
Seeking donations, grants and legacies
22,011
Other fundraising costs
251,627
Fundraising and publicity
273,638
273,638|Unrestricted

funds

general

2022

£

290,936
Unrestricted
funds

general

2022

£
31,955
Unrestricted
funds

general
2022

£
23,024
124,941
147,965
147,965| |---|---| ## ## ## |Awareness costs
Research costs
Shareofgovernance costs (see note 8)
**Analysisbyfund**
Unrestricted funds - general
Unrestricted funds - designated|**2023**
£
13,347
548,472
561,819
36,028
597,847|**2022**
£
23,515
479,434
502,949
27,917
530,866
530,866
530,866| |---|---|---| ||437,049
160,798
597,847|| |**Support and governance costs**
Auditor fees
Legal and professional
Charitable activities|**2023**
2022
**Governance**Governance
**costs**
costs
£
£
18,900
18,900
17,128
9,017
36,028
27,917
36,028
27,917|**2023**
2022
**Governance**Governance
**costs**
costs
£
£
18,900
18,900
17,128
9,017
36,028
27,917
36,028
27,917|**2023**
2022
**Governance**Governance
**costs**
costs
£
£
18,900
18,900
17,128
9,017
36,028
27,917
36,028
27,917| |---|---|---|---| ||||27,917
27,917| |||36,028|| ## ## ## ## |**1 0**
**Other gains or losses**
Foreign exchange gains
**11**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**12**
**Creditors: amounts falling due within one year**
Trade creditors
Amount owed to parent undertaking
Accruals and deferred income|**2023**
£
17,481
10,964
28,445
Unrestricted
funds
general
2022
£
(326)
**2022**
£
54,866
9,649
64,515
**2023**
**2022**
£
£
91,164
26,022
266,380
383,566
4,143
94,269
367,415
465,827| |---|---| ## ## ## |**Balance at**
**1 January 2022**
£
Collaborator contracts
Funding committed for
parent company|**Transfers**
**Balance at**
**1 January 2023**
£
£
79,529
79,529
528,266
528,266
607,795
607,795|**Resources**
**expended**
£
(160,798)
(160,798)|**Transfers**
**Balance at**
**31December**
**2023**
£
£
(79,529)
(53,463)
314,005
(132,992)
314,005|**Transfers**
**Balance at**
**31December**
**2023**
£
£
(79,529)
(53,463)
314,005
(132,992)
314,005| |---|---|---|---|---| |||||314,005| ## |**Unrestricted Designated**
**funds**
**funds**
**2023**
**2023**
£
£
Fund balances at31
December 2023 are
representedby:
Current assets/(liabilities)
2,754,930
314,005
2,754,930
314,005|**Total**
**2023**
£
3,068,935
3,068,935
Unrestricted
Designated
funds
funds
2022
2022
£
£
2,467,516
607,795
2,467,516
607,795|Total
2022
£
3,075,311| |---|---|---| |||3,075,311| ## |Balance duetoThe Heart Research Limited,
the ultimate parent company.
**Amounts owedto**
**parties**
**2023**
£
26,022
26,022|**related**
**2022**
£
94,269| |---|---| ||94,269| ## ## |**16**
**Cash generated from operations**
(Deficit)/surpus for the year
Adjustments for:
Investment income recognisedinstatement of financial activities
Foreign exchange differences
Movementsinworking capital:
Decrease/(increase)indebtors
(Decrease)/increaseincreditors
**Cash (absorbed by)/generated from operations**
**2023**
£
(6,376)
(165,516)
36,070
(82,261)
(218,083)|**2022**
£
119,103
(31,955)
326
(24,945)
432,173
494,702| |---|---| ## ##